The Nigerian Government said that the economy has begun to recover from recession, a minister has said.

The Minister for Budget and National Planning, Udo Udoma, stated this at a meeting with the Executive Secretary, Nigerian Investment Promotion Council, Yewande Sadiku.

The minister gave some of the signs that the economy was on its way out of recession as marginal reduction in inflation rate; relative stability in the foreign exchange market and increase in the foreign exchange reserves.

Udoma said the Economic Recovery and Growth Plan of the government was on track.